Bamboo Toothbrush – One Of The Successful Business Worldwide
Bamboo toothbrushes are the kind of brushes that are a great alternative to plastic brushes as these are biodegradable, organic and these do not hurt the environment at all. The worldwide market for a bamboo toothbrush is valued at 565.2 million USD in the year 2020 and is anticipated to reach 744.5 million USD by the end of 2026, increasing at a CAGR of 4.0 % during the year 2021-2026.
The huge number of plastic policies and stringent regulations implemented by various countries for the eco-friendly alternatives for plastic goods are anticipated to increase awareness among the customers over the next few years. The plastic toothbrushes produced around the world directly go to the landfills and a very tiny part is recycled and it creates plastic pollution. These factors are expected to promote the application of bamboo toothbrushes as alternatives among the buyers in the next few years.
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The government regulations are encouraging consumers to switch to decomposable bamboo toothbrushes and promoting the manufactures to develop environment-friendly products. According to some reports, almost one billion plastic toothbrushes are used and trashed every year in the U.S. These factors are propelling the demand for biodegradable bamboo toothbrushes consumers.
The Factors That Are Driving the Market
- The adult segment accounted for a market share of more than 75% of the global revenue in the year 2019 and is anticipated to maintain its dominance over the forecasted period. With the high spending on organic, natural, and eco-friendly daily products such as dental care products, bamboo toothbrushes are also increasing in popularity among adults.
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- The market revenue from kids as end-users is anticipated to see a CAGR of 9.8% from the year 2020 to 2027 on account of new bamboo-based product launches by companies that include The Humble Co., and Bamboo Brush Co. with extra soft bristles designed for kids. The manufacturers of bamboo products use castor bean oil for making soft bristles so that it can perfectly go with the kid’s teeth.
- The market of the bamboo toothbrush is highly fragmented in nature due to the presence of a large number of players and new entrants the major market share is held by some of the prominent players. The market is evolving significantly as consumers are moving toward more biodegradable and natural products instead of harmful plastic ones.
- The Asia-Pacific region is expected to be the fastest-growing market with a CAGR of 10.1% from the year 2020 to 2027 as a result of high awareness toward health and hygiene in developed economies including South Korea, Japan, and Singapore. Some big companies are launching new products to attract customers and cater to the increasing demand for a bamboo toothbrush.
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The Growing Demand of Bamboo Toothbrushes
Globally, the demand for bamboo toothbrush market size was valued at USD 23.5 million in the year 2019 and is anticipated to increase at a compound annual growth rate (CAGR) of 9.5 % from the year 2020 to 2027. Significant increase in awareness related to limit the growth of plastic pollution has showed the way for the development of new products including bamboo toothbrushes among consumer goods companies. Additionally, some of the research studies have predicted that plastic toothbrush contains toxin chemicals such as BPS, which disrupt the hormones of the human body and cause brain and behavioral disorders. As a result, the toothbrush manufacturing companies are expected to increase spending on innovation related to the production of bamboo product forms.
Related Project: – Bamboo Toothbrush
Conclusion
Niir project consultancy services (NPCS) has a project report named “Production of Bamboo Toothbrush” which covers all the aspects of business, from analyzing the market, confirming availability of various necessities such as plant & machinery, raw materials to forecasting the financial requirements. A lot of engineers, project consultants & industrial consultancy firms in India and worldwide use the project reports made by NPCS as one of the inputs in doing their analysis. The report also assesses market potential, negotiating with collaborators, investment decision making, corporate diversification planning, etc.
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